The Labour Party are split over approving a drilling license to the Rosebank gas field located off the coast of the Shetland Islands.
Rosebank is located in the North Sea, and is big enough to hold over 100 workers at any time. About half a billion barrels of oil could be extracted from the site in its lifetime.
The prior Conservative government approved drilling on the field, but a legal challenge from Greenpeace UK stretched out until after the party lost power at the prior General Election.
While Labour pledged to not hand out any new drilling licenses in their 2024 manifesto they recently announced they approved licenses to the Jackdaw gas field, about 150 miles from Aberdeen.
In the announcement they claimed that “Recent events in the Middle East” informed their decision, referencing the ongoing Iran War which has pushed Brent crude oil prices over £75 ($100) per barrel several times this year inflating fuel prices for the public.
It’s understood that Chancellor John Healey is one supporter of giving Rosebank licensing, arguing the additional generated revenue can be invested into green energy ambitions.
However, critics within the Labour Party, such as MP Mike Reader, say it would be “Frankly deluded” to extend oil and gas extraction right after Britain felt one of its most intense summers in history due to global warming.
The estimated 200m tonnes of CO2 Rosebank would produce annually is greater than about two-dozen countries’ annual output.
Energy Secretary Miatta Fahnbulleh says the final decision will come down to her own judgement.
Photo by Sebastian Schuster on Unsplash
